S&P upgrades credit rating of Mirae Asset Securities

The Mirae Asset headquarters in central Seoul. [MIRAE ASSET DAEWOO]

S&P Global Ratings, a global credit ratings agency, upgraded its credit rating of Mirae Asset Securities to "stable."

S&P on Monday raised the brokerage company’s credit rating from “negative” to “stable,” while keeping the rating at BBB.

S&P said it revised the credit rating because it projects the company will keep an adequate level of capital strength over the next 18 to 24 months, and because it has secured adequate risk management systems based on a diversified portfolio that has stable profitability.

The agency further said it could upgrade the credit rating of the brokerage firm if it maintains its ability to generate profit and manage risks.

BY JIN MIN-JI [jin.minji@joongang.co.kr]